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Public Sector Accounting Standards

Intangible Assets

Summary

PSAB is developing a Canadian public sector accounting standard for intangible assets based on feedback from PSAB’s 2022 Work Plan Consultation. The new intangible assets standard will replace PUBLIC SECTOR GUIDELINE (PSG),8, Purchased Intangibles.

This standard will provide foundational guidance on intangible assets including the definition, recognition, measurement, and required disclosures of intangible assets. It will also allow PSAB to fill an existing gap in the CPA Canada Public Sector Accounting (PSA) Handbook for guidance on purchased intangibles, developed intangibles, and software assets not integral to computer hardware, within one standard.

As part of this project, PSAB will also develop guidance related to Cloud Computing Arrangements in the Canadian Public Sector.

This project will be the first official application of PSAB’s International Strategy, which was effective as of April 1, 2021. In developing the intangible assets standard, the principles of IPSAS 31, Intangible Assets, will be considered for modification in accordance with PSAB’s Criteria for Modifying and Reviewing IPSAS principles which state that PSAB will make amendments to an IPSAS principle if: 

  • it is contrary to PSAB’s Conceptual Framework; and 
  • PSAB finds the principle is not appropriate for application in Canada based on the Canadian public interest. 

Staff Contact(s)

Iman Sheikh, CPA, CA Principal, Public Sector Accounting Board

Phone number  +1 647 264 8346
Email address  [email protected]
Sophia Kasozi, CPA, CA Principal, Public Sector Accounting Board

Phone number  +1 604 605 5099
Email address  [email protected]
Antonella Risi, CPA, CA Associate Director, Public Sector Accounting Board

Phone number  +1 416 204 3484
Email address  [email protected]

Project Status

  • Information gathering

    ​Initial information gathering completed August 2023​

  • Approving project

    Project approved September 2023​

  • Engaging communities

    PSAB approved the Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” accompanying Basis for Conclusions, and various consequential amendments at its December 2024 meeting. The Exposure Draft was issued on February 27, 2025, with a comment deadline of May 30, 2025.

    Exposure Draft
  • Deliberating feedback

    PSAB is currently deliberating feedback received on its Exposure Draft, “Intangible Assets, Proposed Section 3155”.

    Response Booklet
  • Final pronouncement

On-demand Webinar – PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155”

Watch a recording of our webinar to learn more about PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155.”

Watch now

Roundtable – PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155”

Register now for our roundtable on PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” taking place on May 14, 2025

Register now

News

February 27, 2025

Document for Comment

PSAB Exposure Draft – Intangible Assets, Proposed Section 3155

PSAB has issued the Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” which provides foundational guidance on accounting for intangible assets. We developed the proposed new standard using PSAB’s International Strategy and guidance provided in the IPSAS 31, Intangible Assets. Help shape the future of public sector accounting by sharing your feedback on how our proposals might affect your organization. Your input is crucial to the success of our consultation. Respond by May 30, 2025.  

February 27, 2025

Resource, In Brief

In Brief – PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155”

Learn more about PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” which is now out for comment. This resource covers key proposals and proposed modifications to IPSAS 31, Intangible Assets. It outlines how we aim to leverage international guidance to develop a standard that will work for the unique needs of Canadian public sector organizations. Read our In Brief and stay up to date on this important project!

Resource, Webinar

On-demand Webinar – PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155”

Watch a recording of our March 18, 2025, webinar to learn more about our Exposure Draft, “Intangible Assets, Proposed Section PS 3155.” Viewing this webinar and successful completion of the quiz may count towards your CPD requirements.

Meeting & event summaries

June 15, 2026

PSAB Decision Summary – June 15-16, 2026

PSAB reviewed and addressed feedback on its Exposure Draft, “Proposed Section PS 3155, Intangible Assets.” The Board will continue deliberating at upcoming meetings.

The proposed standard is PSAB’s first International Strategy project where an IPSASB standard is adapted for the Canadian public sector in accordance with PSAB’s Criteria for Reviewing and Modifying IPSAS Principles. The draft standard incorporating all recommended amendments will be presented to PSAB for approval in 2027.

December 11, 2024

PSAB Decision Summary – December 11-12, 2024

PSAB approved the exposure draft for Proposed Section PS 3155, Intangible Assets, including the accompanying Basis for Conclusions and various consequential amendments. The exposure draft is expected to be released for comment between late February and early March 2025, with a 90-day comment period.

PSAB also approved the issuance of two cloud computing surveys, one that is developed for the preparer community and one that is developed for other practitioners, such as auditors and/or consultants. These surveys were developed to gather information on cloud computing arrangements in the Canadian public sector and will help inform the development of PSAB’s cloud computing guideline. These surveys are expected to be released for comment between late February and early March 2025, with a 90-day comment period.

September 25, 2024

PSAB Decision Summary – September 25-26, 2024

In accordance with its International Strategy, PSAB reviewed proposed modifications to various paragraphs in the International Public Sector Accounting Standard (IPSAS) 31, Intangible Assets, which will form part of the exposure draft for its intangible assets standard. The Board supported the inclusion of limited impairment guidance for intangible assets within the standard. The Board discussed proposed modifications to transitional provisions and the standard’s proposed effective date. The proposed intangible assets Exposure Draft , as well as the accompanying Basis for Conclusions and Consequential Amendments, is planned to be approved at the upcoming meeting in December 2024.

March 26, 2024

PSAB Decision Summary – March 26-27, 2024

In accordance with the project plan approved in September 2023, PSAB applied its International Strategy to develop an exposure draft for a public sector accounting standard for Intangible Assets. PSAB reviewed and discussed proposed modifications for approximately one-third of the paragraphs in the International Public Sector Accounting Standard (IPSAS) 31, Intangible Assets. The Board will continue to discuss proposed modifications for the next third of paragraphs in IPSAS 31 at its upcoming meeting in June 2024.

October 31, 2023

PSAB Decision Summary – September 28-29, 2023

The Board approved the Intangible Assets project proposal, including an accounting guideline to provide guidance on cloud computing arrangements (CCAs). PSAB reviewed and provided feedback on the approach and timelines to incorporate guidance on CCAs as part of the Intangible Assets project.

Staff will first work to develop an intangible assets standard for the public sector by applying PSAB's International Strategy based on principles in IPSAS 31, Intangible Assets. Once the intangible asset standard has been exposed for comments, staff will then proceed to develop guidance for CCAs in the form of an accounting guideline.